Proficient Auto Logistics, Inc. (NASDAQ:PAL) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its stake in Proficient Auto Logistics, Inc. (NASDAQ:PAL) by 2.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 121,687 shares of the company’s stock after buying an additional 3,342 shares during the quarter. Wedge Capital Management L L P NC owned about 0.45% of Proficient Auto Logistics worth $1,019,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Quantbot Technologies LP acquired a new position in Proficient Auto Logistics in the 4th quarter worth $49,000. Wells Fargo & Company MN increased its position in shares of Proficient Auto Logistics by 37.9% during the fourth quarter. Wells Fargo & Company MN now owns 8,640 shares of the company’s stock worth $70,000 after acquiring an additional 2,373 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Proficient Auto Logistics in the fourth quarter worth about $90,000. Squarepoint Ops LLC acquired a new position in shares of Proficient Auto Logistics in the fourth quarter worth about $96,000. Finally, Deutsche Bank AG purchased a new position in Proficient Auto Logistics in the fourth quarter valued at about $120,000.

Proficient Auto Logistics Stock Performance

Shares of PAL stock opened at $7.47 on Thursday. Proficient Auto Logistics, Inc. has a one year low of $6.61 and a one year high of $21.01. The company’s 50-day simple moving average is $7.94 and its 200-day simple moving average is $9.01. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.16.

Proficient Auto Logistics (NASDAQ:PAL) last released its earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). The business had revenue of $95.21 million during the quarter, compared to the consensus estimate of $94.65 million. As a group, research analysts forecast that Proficient Auto Logistics, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Richard D. Odell sold 49,300 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $8.24, for a total transaction of $406,232.00. Following the completion of the transaction, the chief executive officer now directly owns 836,172 shares of the company’s stock, valued at approximately $6,890,057.28. This represents a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Stifel Nicolaus dropped their price objective on Proficient Auto Logistics from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Barrington Research restated an “outperform” rating and issued a $15.00 price target on shares of Proficient Auto Logistics in a research note on Wednesday, February 12th.

Proficient Auto Logistics Company Profile

Proficient Auto Logistics, Inc focuses on providing auto transportation and logistics services in North America. It primarily focuses on transporting and delivering finished vehicles from automotive production facilities, ports of entry, and rail yards to a network of automotive dealerships. The company operates approximately 1,130 auto transport vehicles and trailers, including 615 company-owned transport vehicles and trailers.